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In complex commercial facilities, tenants are critical factors in terms of their competitiveness, and tenant mix is a decisive factor in creating malls’ concepts. This study investigates the effect of tenant characteristics on rental rate in complex shopping mall. The case mall of this study is Western Dome that is an open air mall in Ilsan. We set the independent variables for this study by distinguishing tenant characteristic variables and physical characteristic variables, and conducted variance analysis and multiple regression analysis. With empirical research, we confirm tenant characteristics have an effect on the rental rate of complex shopping mall. The empirical research shows tenants of food and beverage, accessory, cosmetic etc. pay relative higher rent, but tenants of culture and entertainment pay relative lower rent. And we also find out physical characteristics such as store size, corner location, connection to main street, main entrance distance, etc. have influence on the rental rate. This study shows tenant characteristics should be considered in determining rental rate of complex shopping mall.